Investors clamour for Hana GG debut even as pricing tightens

Hana Bank was set to raise $1bn in Korea’s first government guaranteed bond issue during New York hours on Thursday, after huge demand from investors allowed it to tighten guidance well inside initial pricing expectations.

02 Apr 2009

Most market participants expected Hana to print a three year bond at 490bp over mid-swaps, equivalent to a yield of around 6.55%, after it tightened guidance at midday in Hong Kong.

That was a remarkable result for Hana after investors had initially demanded yields of over 7%, and
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